Detailed_Financial_Accounting_Notes
Detailed_Financial_Accounting_Notes
### **Meaning**
### **Scope**
### **Importance**
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## 2. Branches of Accounting
statements.
5. **Tax Accounting**: Preparation of tax returns and compliance with tax laws.
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### **Concepts**
2. **Accrual Basis**: Revenue and expenses are recognized when they occur.
### **Conventions**
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2. **Rules**:
- **Real Accounts**: Debit what comes in, credit what goes out.
- **Nominal Accounts**: Debit all expenses and losses, credit all incomes and gains.
3. **Benefits**:
Detailed Notes on Financial Accounting
- Ensures accuracy.
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### **Journal**
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### **Ledger**
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- Outstanding cheques.
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1. **Admission of Partner**:
- Adjustment of goodwill.
2. **Retirement or Death**:
3. **Dissolution**:
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2. **Sale to Company**:
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3. **Accounting**:
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- Methods of Accounting:
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Detailed Notes on Financial Accounting
## 16. E-Accounting
### **Meaning**
### **Features**
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1. **Shares**:
2. **Debentures**:
3. **Final Accounts**:
- Managerial remuneration.
5. **Liquidation**:
Detailed Notes on Financial Accounting
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### **Functions**
1. Budgeting.
2. Cost Control.
3. Performance Evaluation.